| EPSRC Reference: |
EP/Z534729/1 |
| Title: |
QuiVal: Quantum Inspired Valuation of circular real estate |
| Principal Investigator: |
Milcheva, Professor S |
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| Department: |
Bartlett Sch of Sustainable Construction |
| Organisation: |
UCL |
| Scheme: |
Other JeS Guarantee Calls TFS |
| Starts: |
01 September 2024 |
Ends: |
31 August 2028 |
Value (£): |
267,922
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Summary on Grant Application Form |
QuiVal will train a new generation of professionals who can develop and apply an innovative, climate-aware approach to real estate value and valuation aimed at achieving the European aim of becoming CO2 neutral before 2050. This is highly needed because the real estate industry is one of the biggest polluting industries that urgently needs to reduce its emissions. Value and valuation are some of the big drivers of investment decisions and project realisation that shape this industry. In practice value and valuation are based on the potential future income generation of real estate, without considering environmental and societal values, which become practically urgent and relevant with new EU rules and regulations (e.g. ESG and SFRD reporting). Despite this urgency, limited scholarly work exists to understand the value of real estate that is CO2 neutral throughout its life cycle, including production, operation, dismantling and reuse.
QuiVal conceptualises value and valuation as metaphorical synonyms to quantum mechanics and tests proposed changes in real estate applications. QuiVal responds to recent theoretical calls to consider quantum mechanical notions in financial tools and techniques, and as a first of its kind conceives this as a design research to explore the merits of quantum mechanical notions to pursue circular real estate. This enables value to be understood as a multifaceted phenomenon and valued by observing it in its fluid appearance in the market. It is expected that tools and techniques with this comprehension and sensitivity enable new governance and policies to more intrinsically motivate future investments in circular real estate.
QuiVal is a collaborative network of PhD projects that trains and develops quantum inspired approaches to value buildings with a long life and components and materials easily mobile for reuse, thereby synthesising recent advances in digital and human valuation techniques for a circular real estate market.
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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| Description |
This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk |
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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